Cerity Partners LLC increased its stake in GitLab Inc. (NASDAQ:GTLB – Free Report) by 772.3% during the third quarter, Holdings Channel reports. The firm owned 56,307 shares of the company’s stock after acquiring an additional 49,852 shares during the period. Cerity Partners LLC’s holdings in GitLab were worth $2,902,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Bank of Marin raised its stake in GitLab by 3.0% during the third quarter. Bank of Marin now owns 5,856 shares of the company’s stock worth $302,000 after acquiring an additional 171 shares in the last quarter. Moloney Securities Asset Management LLC increased its position in GitLab by 4.9% during the 2nd quarter. Moloney Securities Asset Management LLC now owns 6,400 shares of the company’s stock worth $318,000 after purchasing an additional 300 shares in the last quarter. Canton Hathaway LLC lifted its stake in GitLab by 26.3% in the 2nd quarter. Canton Hathaway LLC now owns 2,086 shares of the company’s stock valued at $104,000 after purchasing an additional 435 shares during the last quarter. Blue Trust Inc. boosted its position in GitLab by 18.2% in the third quarter. Blue Trust Inc. now owns 3,166 shares of the company’s stock valued at $157,000 after buying an additional 488 shares in the last quarter. Finally, Caprock Group LLC boosted its position in GitLab by 1.9% in the second quarter. Caprock Group LLC now owns 31,272 shares of the company’s stock valued at $1,555,000 after buying an additional 586 shares in the last quarter. Institutional investors and hedge funds own 91.72% of the company’s stock.
GitLab Stock Performance
GitLab stock opened at $63.75 on Friday. The stock’s 50 day moving average price is $56.60 and its two-hundred day moving average price is $51.96. The stock has a market capitalization of $10.23 billion, a price-to-earnings ratio of -27.24 and a beta of 0.45. GitLab Inc. has a 52-week low of $40.72 and a 52-week high of $78.53.
Insider Transactions at GitLab
In other news, CEO Sytse Sijbrandij sold 56,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $54.68, for a total transaction of $3,062,080.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Robin Schulman sold 2,990 shares of the stock in a transaction on Thursday, October 10th. The stock was sold at an average price of $55.00, for a total value of $164,450.00. Following the completion of the transaction, the insider now owns 136,076 shares in the company, valued at approximately $7,484,180. This represents a 2.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 185,033 shares of company stock valued at $10,569,356 in the last 90 days. 21.36% of the stock is currently owned by corporate insiders.
Analyst Ratings Changes
A number of research analysts have recently commented on the company. Wells Fargo & Company increased their price target on GitLab from $70.00 to $75.00 and gave the company an “overweight” rating in a research note on Wednesday, September 4th. TD Cowen lifted their price target on GitLab from $63.00 to $70.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. Cantor Fitzgerald upgraded GitLab to a “strong-buy” rating in a report on Tuesday, November 12th. Barclays raised their price objective on shares of GitLab from $50.00 to $55.00 and gave the company an “equal weight” rating in a report on Thursday, September 5th. Finally, Royal Bank of Canada boosted their target price on shares of GitLab from $55.00 to $60.00 and gave the stock an “outperform” rating in a report on Wednesday, September 4th. Three analysts have rated the stock with a hold rating, twenty have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $67.17.
Check Out Our Latest Report on GTLB
About GitLab
GitLab Inc, through its subsidiaries, develops software for the software development lifecycle in the United States, Europe, and the Asia Pacific. It offers GitLab, a DevOps platform, which is a single application that leads to faster cycle time and allows visibility throughout and control over various stages of the DevOps lifecycle.
Featured Articles
- Five stocks we like better than GitLab
- About the Markup Calculator
- ServiceNow: Will the High-Flyer Finally Split in 2024?
- The Significance of a Trillion-Dollar Market Cap Goes Beyond a Number
- MarketBeat Week in Review – 11/25 – 11/29
- The Significance of Brokerage Rankings in Stock Selection
- These 3 Stocks Are Heavy Hitters in Alternative Asset Management
Want to see what other hedge funds are holding GTLB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for GitLab Inc. (NASDAQ:GTLB – Free Report).
Receive News & Ratings for GitLab Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for GitLab and related companies with MarketBeat.com's FREE daily email newsletter.